Closing Bell: Sensex ends flat after a rangebound session, Nifty tad below 11,600; Vedanta top loser

Benchmark indices ended flat after a rangebound session on April 11 as traders remained cautious ahead of TCS & Infosys earnings scheduled to be announced tomorrow.

The 30-share BSE Sensex rose 21.66 points to 38,607.01and the Nifty50 gained 12.40 points at 11,596.70. The market breadth remained in favour of bears as about 1,325 shares declined against1,153 advancing shares on the BSE.

Indiabulls Housing Finance, Bajaj Finserv, Bharti Airtel, Bajaj Auto and Dr Reddy's Labs were gainers while Infosys, TCS, Vedanta, Sun Pharma, Power Grid, Tech Mahindra were losers among Nifty50 stocks.

Manappuram Finance, HDFC Life, ICICI Prudential, Rain Industries, CG Power, Tata Global, Adani Power and Tata Power were midcap gainers while Reliance Naval, Edelweiss Financial, Jubilant Foodworks and DLF lost 2-7 percent.

Essel Group said the repayment along with interest will be made to each & every lender as per the agreed timeline of September 2019, reports CNBC-TV18.

"We cannot comment on arrangement between Kotak Mahindra AMC & its investors, but remain committed to achieve the resolution," the group said.

Essel Group issued statement on repayment to lenders. Kotak Mahindra AMC is one of the lenders of the group.

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Cairn India chief executive Sudhir Mathur has resigned from the company, the fourth CEO to quit the firm since it was taken over by mining billionaire Anil Agarwal-led Vedanta Group seven years back.

Along with Mathur, Pankaj Kalra, the chief financial officer of Cairn India, which is now a part of Vedanta Ltd after its merger with the parent, has also resigned, sources privy to the development said. (Source: PTI)

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Benchmark indices are trading lower in the afternoon session with Nifty below 11,600 level.

At 14:11 hrs IST, the Sensex is down 73.64 points at 38511.71, while the Nifty down 22.50 points at 11561.80.About 1017 shares have advanced, 1295 shares declined, and 156 shares are unchanged.

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Eurotex Industries informed that due to frequent labour problems during the past few years, the production in the Plant E-23 is stopped for the time being.

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The Indian rupee erased morning losses and turned positive as it is trading near day's high.

It is trading higher by 18 paise at 68.93 per dollar against Wednesday's close 69.11.